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Scania Presentation%20Q3%202008_tcm10-219195
 

Scania Presentation%20Q3%202008_tcm10-219195

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    Scania Presentation%20Q3%202008_tcm10-219195 Scania Presentation%20Q3%202008_tcm10-219195 Presentation Transcript

    • Press conference Erik Ljungberg, Corporate Relations 1
    • Interim Report January-September 2008 Jan Ytterberg, CFO 2
    • First three quarters of 2008 – highlights Profitability at all time high Operating margin 15.8% – – High returns – Good revenue growth 3
    • Profitable growth Vehicles & Services SEK m. Percent 100,000 55 Net sales growth EBIT Margin Revenue ROCE 50 90,000 11% 45 80,000 40 EBIT growth 25% 70,000 35 60,000 30 ROCE 50.5% 50,000 25 40,000 20 30,000 15 20,000 10 10,000 5 0 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008* Q3 * Rolling 12 months 4
    • High volume Total deliveries, trucks and buses Units 24,000 Deliveries +4% 20,000 Delivery times becoming 16,000 shorter 12,000 8,000 4,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2004 2005 2006 2007 2008 5
    • Service business is growing Service revenue and rolling fleet Units SEK m. 18,000 600,000 Capitalising on Rolling fleet Service revenue substantial 16,000 500,000 vehicle 14,000 population 400,000 12,000 10,000 300,000 Increased prices 8,000 200,000 4,000 100,000 2,000 0 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008* Q3 * Rolling 12 months 6
    • Operating income Vehicles & Services Strong EBIT growth due to Volume Price – Higher vehicle and service EBIT increase: Product mix volume + SEK 2,025 m. 9 mth – Prices – Product mix R&D 7
    • Cash flow Vehicles & Services SEK m. 4,500 Increased tied-up 4,000 working capital 3,500 – Volume growth 3,000 – Higher 2,500 inventories 2,000 1,500 1,000 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2004 2005 2006 2007 2008 Note: Excluding acquisitions/divestments and Financial Services 8
    • Volume driven growth Credit portfolio, Financial Services SEK m. 45,000 Portfolio +8%, local currencies 40,000 35,000 Increased bad debt 30,000 provisions in 25,000 several markets 20,000 15,000 Well balanced 10,000 portfolio 5,000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 9
    • Bad debt expenses Percent 0,80 Bad debt ratio Write-off ratio 0,70 0,60 0,50 0,40 0,30 0,20 0,10 0,00 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Q3 10
    • Conservative refinancing policy EIB loan Increased credit facilities +70% EIB loan of SEK 3,000 m. SEK 24,300 m. SEK Credit facilities & 14,210 m. EIB unutilised Facilities Facilities Sep 2008 End 2007 11
    • Building shareholder value SEK Percent 14 50 Net income +26% EPS (SEK) ROE 45 12 Net margin 11.1% 40 10 35 Earnings per share 30 8 SEK 12.60 rolling 25 6 12 months 20 15 4 Return on equity 10 2 43.3% (31.4) 5 0 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008* * Rolling 12 months 12
    • Conclusion All time high earnings Focus on cash flow Financial services stable Conservative refinancing policy 13
    • 14
    • Outlook Leif Östling, President and CEO 15
    • Market developments Order bookings trucks 9 months Western Europe -51% Central and eastern Europe -34% Latin America +29% Asia +3% 16
    • Orders lower than production Units 100,000 Orders Production 80,000 60,000 40,000 20,000 0 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q3 Q1 2004 2005 2006 2007 2008 Rolling 12 months 17
    • Flexible production cost structure Chassis production 2007 Labour cost Other Sourced material and components (70%) 18
    • Flexibility – global product range 19
    • Service business is growing Service revenue and rolling fleet Units SEK m. 18,000 600,000 Capitalising on Rolling fleet Service revenue substantial 16,000 500,000 vehicle 14,000 population 400,000 12,000 10,000 300,000 Increased prices 8,000 200,000 4,000 100,000 2,000 0 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008* Q3 * Rolling 12 months 20
    • Service business is growing High level of transport activity High capacity utilisation in workshops New services ~50% of volume in captive network 21
    • Outlook Earnings in 2008 will be higher than 2007 Due to uncertain situation about future business conditions, Scania provides no forecast for 2009 Liquidity situation important factor for transport companies 22
    • 23